KR update 4/16/2015: did Primary III peak? or a few more subdivsions on the way!?

KR has been on an incredible run since February last year, more than doubling in value. However, all good things come to an end, and it appears as if Primary III may have peaked.

First of all, the count off the february 2014 low counts as complete. A break below the March low (intermediate iv) will confirm the uptrend is over. In addition, price slipped below the 2 ascending trendlines that have kept downside in check since the mid-October low. Continued below chart

CLICK TO ENLARGE

KR update 04162015

In addition, price is now also below the 50d SMA, the first time since November last year, and price is dragging along the lower BB, and causing the BBs to expand after BB-squeeze. However, price did fins support at the $77.50 level today, which it also did early march when it broke away. Simple retest? In addition, price has now become rather oversold on the daily RSI5 and A.I., but there are no buy-signals anywhwere. Instead all TIs are still pointing down wanting to see lower price. CONTINUED BELOW CHART

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Also the weekly chart has given sell signals on all TIs and the negative divergence on the weekly RSI has kicked in. Price is now at the weekly R1 level, which needs to hold. If it can’t then the 20w SMA -now at $70- is next. Below that and the lower weekly BB, as well as the 50w SMA ($59-ish for both) are next support. IF my count is correct, then a 38.2% retrace of all of Primary III would target $52-ish, around the weekly Pivot level ($54). For now, all systems are on sell.

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